RIYADH — The Ministry of Finance announced that the Saudi Financial Oversight Law, approved by the Council of Ministers on December 1, 2025, has come into force following the issuance of its executive regulations. The new legislation is aimed at enhancing transparency, institutional accountability, and operational efficiency in public financial management, in alignment with the objectives of Saudi Vision 2030. The law replaces the Financial Representatives Law and is designed to modernize the management of public funds. This law was formulated as part of broader efforts to develop and strengthen the efficiency of the public funds oversight system, in line with the Kingdom's Vision 2030 objectives. It introduces a risk-based oversight framework that enhances accountability, transparency, and efficiency, reflecting the goals of Vision 2030. The law represents a fundamental pillar in promoting the efficiency and sustainability of government operations, safeguarding public funds, and reinforcing financial discipline. The executive regulations of the law establish clear implementation mechanisms and enable government entities to adopt modern oversight practices suited to the nature and scale of their operations. The law applies a risk management approach to public spending, which is particularly important in facilitating increased private sector participation in government projects. The scope of the new law extends to entities funded through the general budget, as well as those receiving state support, grants, or subsidies. It also applies to entities responsible for implementing projects or procurement on behalf of government agencies. The law adopts a comprehensive mix of oversight methods, including direct control, self-regulation, digital oversight, and report-based control. These approaches are tailored to the varying operational contexts of different entities and are aligned with leading global best practices in financial oversight.